01/08/2022. Weekly CryptoNews Digest and News from the HYIP Industry
Hello everyone! Summer is slowly moving on and today is the first day of August. That was certainly the most uneventful summer in my memory since I started my blog back in 2007. However it was widely expected due to the well-known post-Covid economic crisis caused by cost of living expenses rising sharply across the world while salaries fall behind inflation. As the purchasing power of the average worker wanes we all have less disposable income than before and that makes many people worry for their future and postpone large purchases. To add insult to injury, if you wanted to get some extra income from cryptocurrencies it had to disappoint you as well. Although recently the crypto market got a sort of revival BTC is still trading at much lower levels than it used to cost just a few months ago.
All in all, that doesn’t inspire much confidence for HYIP investors to join new programs this summer to play with their hard-earned cash. In fact, the vast majority of the programs starting at the moment are simply being used as a tool for their admins to collect money for holidays. Such talented and serious admins like the oneose running RoboticsOnline for three years already are very hard to find nowadays, and that’s why many cautious investors rightfully avoid losses and stick with giants that won’t disappoint.
I will talk more about RoboticsOnline (which has some quite exciting updates by the way) in the news from the HYIP industry section of the blog. First off though I would like to remind you that your patience in searching for the next big thing might be rewarded soon. In order not to miss any new programs coming to the MNO monitor soon I strongly suggest to follow MNO on Telegram, Facebook or Twitter to be among the first to know. Alternatively, if you want to receive the blog posts in full directly to your email address please submit it on this page. Finally, if you have any questions or suggestions please feel free to contact me directly at abramsonp@gmail.com, use this contact form to submit your query, or simply chat with me live on Telegram @mnoblog
Before getting to the regular news from the HYIP industry I want to discuss the most interesting developments from the last calendar week concerning cryptocurrencies. You might remember that starting this year every Monday MNO posts a Weekly CryptoNews Digest where I share what all the major highlights I found happening across the crypto market over the last seven days. So, below I invite you to read on to what happened on the last week of July, 25-31, 2022.
If there was one single defining factor that dominated the crypto industry for most of this year it’s been declining prices, or the so-called “crypto winter” as some would call it. Well, one cryptocurrency bucking that trend right now is Ethereum Classic, or ETC. Developed as a hard fork six years ago from its sister currency Ethereum (ETH), Ethereum Classic has more than doubled in value in the last two weeks. In fact it’s up 124% against the US dollar, a most impressive result. ETH itself has also been doing quite well, just not to the same extent. It isn’t really a coincidence or just some random event however, as many ETH miners were expected to concentrate their activities on ETC around this time. I’m not going to go into too much detail on the reasons why here because it’s largely technical and really only of practical use to those actively involved, but in a nutshell The Merge as it’s called is hoped to happen in late September and involves a shift from Proof of Work (PoW) to Proof of Stake (PoS). What this really means for just the regular spenders and speculators is that the process of mining becomes significantly more environmentally friendly, using just a fraction of the energy needed to mine the likes of BitCoin which is one thing that makes BTC so controversial, thus making the act of mining a lot cheaper and more accessible again.
I imagine a lot of readers will be familiar with the Federal Deposit Insurance Corporation, the FDIC, or at least have some knowledge of the concept behind it. That’s the US version anyway, it will be called something different in your own home countries. Around the time of the last great global financial crisis many nations introduced a state backed insurance fund to guarantee money kept in back accounts by members of the public in the event of the bank becoming insolvent. Depending on what country you lived in there was an upper limit placed on the amount you could be compensated for, but in the majority of cases it would be a lot more than what the average working person might have in the bank were such an event to happen.
Anyway, you may be wondering what all this has to do with cryptocurrencies. It would appear that while leading up to filing for bankruptcy themselves, one cryptocurrency brokerage firm was making some very misleading claims to their members about the safety of their money and have now been warned to stop doing so by the government. Federal regulators have ordered Voyager Digital to stop telling customers that their deposits are protected from losses by the Federal Deposit Insurance Corporation because that’s not true, according to letters from regulators sent this week. Voyager has mentioned its federally insured status on its website, mobile app and social media accounts. “Your USD is held by our banking partner, Metropolitan Commercial Bank, which is FDIC insured, so the cash you hold with Voyager is protected,” Voyager’s website said Friday, claiming deposits are “FDIC insured on USD $250,000.” Voyager’s claims “likely misled and were relied upon by customers who placed their funds with Voyager and do not have immediate access to their funds,” the letter said. Voyager suspended all activity in July and filed for bankruptcy a few days later, leaving customers without access to their funds. Voyager said in court documents that it has been hurt by “prolonged volatility and contagion” in the cryptocurrency market. It entered bankruptcy proceedings with about $110 million in cash, court documents state. FDIC officials said Voyager is violating the Federal Deposit Insurance Act, which prohibits anyone from implying that deposits are insured when they’re not. Voyager Digital has a bank account with Metropolitan Commercial Bank of New York and that account is insured, the FDIC said, but customers opening and using accounts on the Voyager Digital platform are not insured.
It’s not even a cliché anymore to say that the floodgates have well and truly opened on cryptocurrencies entering the world of mainstream business, it’s simply a matter of more and more institutions moving in that direction. Now Spanish banking multinational Santander plans to offer crypto trading to its clients in Brazil in the coming months according to a statement from the Santander Brazil CEO last week. The bank plans to launch crypto related services and could provide further news about the initiative in the company’s next earnings release in mid-October. “We recognize that it is a market that is here to stay, and it is not necessarily a reaction to competitors positioning themselves. It is simply a vision that our client has demand for this type of asset, so we have to find the most correct and most educational way to do it,” the statement said. Santander has already made inroads with crypto in Latin America this year. In March, it launched loans in Argentina for farmers collateralized with tokenized commodities in partnership with Agrotoken, an Argentina based agricultural commodities tokenization platform.
Santander aren’t alone in this view either. In fact several non-crypto financial companies have announced or started operating crypto ventures in Brazil recently. In July, the Brazilian fintech PicPay announced its plans to launch a crypto exchange and a Brazilian real-tied stablecoin in 2022. In December, Mercado Libre, Latin America’s largest e-commerce company by market value, started allowing users in Brazil to buy, sell and hold cryptocurrencies. On Tuesday, Nubank, the largest Brazilian digital bank by market value, announced it reached one million users on its crypto trading platform just one month after launching in June.
I’ve often thought that with the rapid advance of the internet and related technologies that it’s no wonder how so much online business was something of an unregulated “wild west” for so long. Just take the very existence of the HYIP industry for example, or the birth of BitCoin. The thing is that when scams start to happen, authorities have no idea where to look or exactly what law has been broken due to the technology evolving faster than legislators can understand what it is. How many members of your own country’s parliament do you think could give an accurate and understandable description of what a “BitCoin fork” is? Not many I would guess, so then can they be expected to legislate such things? It’s taken them years to catch up even as things stand, and the technology continues to advance.
It’s the lack of crypto experts to help regulate the crypto market that’s causing so much concern to the European Union or to be more accurate the European Banking Authority (EBA). The President of the EBA commented that the lack of experts has hampered the development of guidelines that need to be implemented by 2025. Regulating the cryptocurrency market has been among the European Union’s priorities. The political-economic union represents 27 countries in the region. It recently finalized the Markets in Crypto Assets (MiCA) legislative package, which aims to institute a series of new standards, especially for the use of Stablecoins. In addition, the parliament voted on a proposal to ban the use of crypto assets that use the PoW consensus method. It was later rejected, to the happiness of asset enthusiasts. But then again it’s exactly the dynamic nature of cryptocurrencies that make it difficult for the bloc to reach a consensus, despite advances in recent weeks. According to the President of the EBA, regardless of the regulatory structure that is developed and approved, it will already be behind in relation to the market. He adds that when the established guidelines take effect three years from now, there is a high chance that crypto assets will have “other uses that we can’t predict.”
Or to put it in simpler terms – they don’t know what they don’t know. The European Union has enormous difficulty in hiring individuals specialized in the crypto market, which in turn makes it so hard to supervise the industry. The problem itself would not be the lack of skilled labor, but rather competing against high salaries offered by private companies in the sector. Investing heavily in hiring and offering higher salaries “is not within the scope of possible discussions,” according to the head of the EBA. However, mass layoffs by large crypto companies in recent months may change this situation. Some of the dismissed professionals may seek to relocate to regulatory agencies. In addition, many large companies and exchanges, such as Binance, seek to collaborate with government agencies to establish guidelines that do not hinder the development of the crypto market.
Finally for this week’s digest I want to just briefly mention an interesting article I came across about the Blockchain platform and cryptocurrency Solana. It seems they’re going so far as to open a physical Solana themed store to the public in New York City. In a post on one of the Solano social media profiles, it was said “inside the store, you’ll learn how Solana works, what Web3 is. We’ll set you up with a wallet and your first NFTs, and guide you through your first on-chain transactions”. It added that it designed the space to be a “cultural center” and “embassy” for Solana, though to be perfectly honest I’m not entirely sure what that even means. Beyond NFT and Phantom wallet tutorials, the space will also provide consumers with an interactive art installation—and plenty of Solana branded merchandise for sale, including a limited run of their own brand sneakers. All this comes in addition to Solano’s recently announced plans to create and launch its own Android smart phone.
That’s all for this week’s CryptoNews Digest. Make sure to tune in next Monday to find out more and always stay up to date on the cryptocurrency markets with MNO. Now back to the news from the HYIP industry.
NEWS FROM THE HYIP INDUSTRY
ROBOTICSONLINE – ROADMAP TO PROSPERITY 2023 PUBLISHED AND OTHER NEWS
Experienced long term readers of MNO going back over the several boom times in the HYIP industry will know by now that RoboticsOnline is one of the longest surviving programs in its history. By default this fact alone would almost certainly make it also one of the best. But when you factor into the equation that we are currently going through the biggest slump/recession in that same HYIP industry this achievement becomes so much more remarkable. It just goes to prove that a sensible business plan coupled with competent management can bring admins and investors alike a tremendously bigger amount of money than any cheap and fast scam.
RoboticsOnline was first monitored on MNO back in 2019, and reviewed sometime later which you can read here. But just to refresh your memory I’ll remind you that you enjoy an approximate 5% profit on expiry of a fixed-term 12 business day deposit which can start from a $50 minimum made via BitCoin, LiteCoin, Ethereum and, most recently, USD Tether ERC-20. The total ROI will be 4% to 5% and will depend on the RoboticsOnline financial performance which can fluctuate depending on the company’s profitability in the cryptocurrency and robotics markets. Now that may not sound so much in HYIP industry terms, but consider this – how much is anyone else paying you? For that matter, compare how much your bank is paying you for your savings compared to how much they are charging you for a current/checking account. It’s the proverbial no-brainer. RoboticsOnline is the only serious opportunity to make money passively off the net these days.
As the old expression goes, “fail to prepare, prepare to fail”, the admin team behind the mighty RoboticsOnline have issued one of their most important news updates of the year so far outlining their strategy for the next 12 months. I must say there are some very exciting developments ahead as the program lays out its plan to deal with the current global economic crisis. It’s a lengthy enough news letter so I’ll let you read it yourselves below, however the most critical issues being addressed include making the business more transparent to investors, making the website more accessible to new international investors, and expanding their Live one-to-one customer support network so an operator will be there to help you no matter what time zone you are in. Let’s hear the latest from RoboticsOnline below:
“Most Important News About Our Company in 2022
Today we have important news to announce – it’s about the current state and future of RoboticsOnline.
We at RoboticsOnline LLC have been working since 2018 to build, develop and become one of the global pioneers in our investment industry.
These are turbulent times: Covid-19 is still ongoing, a war between some countries has started, and global markets are changing. Inflation is rising worldwide, and falling markets and uncertainty were particularly hard on the stock markets, although our firm was largely unaffected.
Also, after the last events in the investment market, especially in Europe investors are insecure. In this article, we would like to show all members how we are currently working, what we will work on, and how we will ensure that RoboticsOnline will continue to be a profitable company.
Roadmap
The first step is to publish a roadmap for the next 12 months. We realize that our members and investors want to know what the future holds for this company.
Over the next 12 months, there will be several changes that will ensure RoboticsOnline continues to be a profitable investment platform.
Some topics include:
– Translation of the website into ten more languages
– The option to download your tax report
– More transparency about our internal operations and staff
– Sending out the first membership boxes
– Fundamental changes in our investment platform
– Fundamental changes in our partner program
You can find the complete roadmap here: Roadmap
The most significant changes for August 2022:
– Translation of the website into German
– Introduction of the new “Report” page in the dashboard
– Function to download your tax report
– Hiring of new customer support staff in 2 languages
– Improved accessibility of live chat support to 18-24 hours per day
– More transparency on our “About Us” page, the listing of new employees
– Launch of several influencer marketing campaigns
Transparency
After the latest events in Europe, confidence in the investment industry has been damaged. We are aware of this and are proactively working to show more transparency to our investors.
When the investment platform of RoboticsOnline first went live in September 2019, our team consisted of only a few employees at that time. Today, at the end of July 2022, we are working closely with almost 25 people.
Within the last months, five programmers worked full time for our platform, in addition to external agencies, which primarily take care of marketing and our social media channels, but also manage internal processes.
Due to the increased demand for our platform, our customer support, unfortunately, could not operate at the highest level as our investors were used to in the last years.
However, we are pleased to announce that at the beginning of August 2022, we will add new employees to our livechat so that you can reach us 18 hours a day.
In addition, we’ll also be featuring the new staff on our About Us page, so we can create more transparency and show who’s working for our company.
That is just the beginning: We will also show our partner agencies and list them in that section soon.
Current returns
We mentioned it at the beginning of this article: World markets are changing, and stock markets have been in a downward spiral for the most part.
Some investors may have noticed it already: Our company’s returns have also been down slightly the last few months, though not remarkably much.
RoboticsOnline LLC’s investment portfolio has adjusted to the situation, as it has the years before. With ICOs having disappeared from our portfolio some time ago, the increased focus has now been on cryptocurrency trading.
In that sector, we are able to generate steady returns despite the bear market by betting on downtrends. In other words, we did not bet on rising markets, but on falling markets. The technical term for this is “going short.”
Aside from smaller investments in robotics and startups, this has accounted for the largest turnover in our business. We remain confident in our ability to generate returns at nearly the same level in the future.
Future changes to our platform
We want to list and explain the most important changes that will happen, as they will have a powerful impact on the future investment activities at RoboticsOnline.
As mentioned in the roadmap, there will be some fundamental changes to our investment platform.
That is necessary so that our company can continue to operate sustainably in the future and distribute profitable returns for all investors.
As our company’s working capital increases, the returns achieved also decrease. It is easier to achieve high returns with relatively little resources, rather than with a lot of resources.
Some reasons are the necessary diversification but also finding profitable investments. When trading cryptocurrencies, as the volume of investment increases, you get to an area where you can’t add more capital to coins with low market capitalization.
In 2020, investments in only two startups would have been necessary—today our company would need more than 10. All of this reduces the returns, and it was already clear to everyone in our company in 2019 when we finalized the concept for distributing the returns that it would require changes while the business was running.
Over time, there was already a fundamental change in the distribution of all profits: When our platform launched in September 2019, there were no flexible returns like today, and the bonuses were still massively increased.
The autopilot bonus was four times what it is today, +4% per term, instead of +1% as it is today.
With the encouraging growth of our business, it is time to change our platform soon so we can continue to be profitable in the long term.
In 7 months from now, in March 2023, we will restructure our investment platform as follows:
– Extending the term of only 12 business days per investment plan
– Lowering the autopilot bonus and investment amount bonus
– Distribution of affiliate program commissions will be based on returns
All these fundamental changes, especially the longer term of the investment plans, will ensure that our company can also work and invest sustainably.
Again, as with the restructuring some time ago, this will result in lower returns. Nevertheless, we are confident that we will continue to generate above-average returns, which will benefit all our investors.
We, the entire RoboticsOnline team, would like to thank every investor for the trust they have placed in us to date.
Only because of you we were able to develop RoboticsOnline into the platform you see today.
We hope we can continue to call you a member and investor of our company—because we are proud that you are a part of our company and what we have already achieved as a community.
We are looking to the future with confidence and can’t wait to see what else we will accomplish as an organization.
With best regards, the team of RoboticsOnline”
“Most Important Message To All Investors In 2022
The most important news about our company in 2022:
We talk about the future of RoboticsOnline, what we have planned, which steps we are taking to ensure the sustainability of our platform in the future, and much more.
The whole article is too complex, so we advise that you read it on our website”.
“Ankr Network Unveils Ankr 2.0
Ankr Network launches a new upgrade, Ankr2.0, to their Web3 infrastructure, intending to assist blockchains in smooth transitioning, support decentralization, and enhanced resiliency. The upgrade to elevate Web3 advancement to the next level.
New features include an independent node, allowing people to stake ANKR tokens on the full node, and supporting the Ankr decentralized autonomous organization (DAO).”
“Voyager Digital Halts
Voyager Digital shares drop by 26% as it joins the list of cryptocurrency trading platforms that have halted withdrawals because of the ongoing bear market. The company faces the heat of 3AC hedge fund exposure.
Previously, Voyager had already hinted at being in a bad financial situation. The company received a loan of $200 million and a revolving credit facility of 15,000 Bitcoin, valued at $294 million, from Alameda Research.”
“CryptoPunk Sells for $2.6M
A CryptoPunk NFT was acquired for 2,500 Ether (ETH), worth $2.6 million during the purchase. Despite a downward move in the overall NFT market, the transaction involving CryptoPunk4464 has become the biggest NFT sale in 30 days.
The sale is the 15th biggest transaction in the U.S. dollar, despite being the fourth biggest sale in ETH, due to the recent fall in ETH price.”
“Bitcoin Price Hit $24K, But Analysts Say
Analysts are divided on whether BTC and ETH will go closer to higher-timeframe resistance levels or slide back into range once Bitcoin reaches $24 K.
Cryptocurrency investors continue to enjoy this week’s bullish price action after Bitcoin (BTC), Ether (ETH), and a handful of altcoins rallied on July 20 alongside gains in the traditional markets.
Pullback seems inevitable as whale wallets remain dormant and high time frame trends remain bearish.”
“Robotic Lightning Bugs Take Flight
Inspired by fireflies, researchers created soft actuators that can emit light in different colors or patterns.
These artificial muscles, which control the wings of featherweight flying robots, light up while the robot is in flight, providing a low-cost way to track the robots and enable them to communicate.”
“Polygon Zero-Knowledge EVM Rollup Aims
Polygon announces the launch of Polygon zkEVM, a model that harnesses zero-knowledge proof to club multiple transactions into groups before relaying them to the Ethereum blockchain as a single transaction.
Polygon promises faster settlement and far better capital efficiency through the newly-launched solution.”
That’s all I have to report for today, guys.thanks as always for reading and I hope you find the information here helpful. If so then please come back again next Monday for more. Have a successful and productive week ahead and thanks for staying with MNO – For Money Lovers!
Filed under Cryptocurrencies, Daily News by on Aug 1st, 2022.